The green color continues to cover the market with the VN-Index increasing positively, thanks to the leadership of information technology, consumer services and securities industry groups.
These industry groups took turns leading the increase yesterday, making an important contribution to the index's increase, showing a positive spread, creating a stronger foundation for the market's recovery. However, there is a risk that the index may experience significant shaking pressure again with high price supply around the near resistance levels.
The market in early August was full of turbulence when the VN-Index fluctuated strongly, with some sessions dropping approximately 50 points. Looking back at July, it was also a series of not very positive days when the VN-Index fluctuated between 1,220 - 1,300 points, closing up only 0.5% compared to the previous month. The market's adjustment rhythm, in addition to being influenced by the increasingly unstable political and international market context, is also an annual cyclical decrease after the business results of businesses are announced. . However, after the correction, instead of worrying, investors should also see this as an opportunity.
Dr. Nguyen Duy Phuong, Investment Director of DGCapital, said that when corporate profits increase and stock prices become cheaper, many stocks will become more attractive. Although there are some general concerns from the international market, it is likely that the domestic market will not fall too deeply and will soon find balance.
Opportunities are being given for both scenarios, including a reversal or simply a period of accumulation and technical recovery before the downward momentum returns. In a positive scenario, the support area of 1,200 - 1,220 points is maintained and the resistance area that needs to be conquered to regain a clearer positive signal will be around the threshold of 1,240 points (MA20). Along with that, the index needs to gather strong enough momentum from the support of large capitalization groups and the response of active demand on a large scale of stocks across the market.
HSC Securities Company believes that the observation strategy needs to be maintained for new short-term buying positions. The positive changes in last week's session can be seen as an opportunity for investors holding a high proportion of weak stocks to restructure their portfolios. Positions with a medium and long-term vision are facing attractive opportunities, so pay attention to deep short-term corrections to accumulate, especially for potential stocks with a solid internal foundation.
